INSIGHT
THE IMPORTANCE OF INFLUENCE
The use of influencer marketing has grown rapidly over the past decade , but new Committee of Advertising Practice guidelines regarding the transparency of affiliate marketing could prove a stumbling block going forward , says Marie Clements of Digital Fuel Marketing .
INFLUENCER MARKETING IS by no means a new concept . It can be traced all the way back to the 1800s , when companies realised celebrity endorsements increased their sales , and over time the role and power of that influence has changed and diversified . And while the role of influence has evolved over time , particularly in the last decade , our approach as marketers has too , with the need to understand different types of influence and how to create effective and converting campaigns .
One of the key developments in marketing and advertising is that consumers are more conscious of and impervious to the effects of advertising , with a general mistrust of paid ads as they are very aware of the financial motivation behind them . However , when it comes to an individual recommendation , even from a stranger , consumers are much more trusting , and so brands have been investing more time and resources into working with individual influencers . Investment in influencer marketing is about more than building brand awareness , it ’ s a way of validating your product to consumers using someone they have trust in .
Defining influence How do we define who is an influencer ? There are some essential qualities for an individual to be considered an influencer . First , there is their reach — fundamentally , influencers need an audience to be able to convey messages and distribute content to . Second , their own content and aesthetic also needs to be relevant and fit with the brand they ’ re promoting ; the connection between the influencer and the brand or common topics will determine how effective their results will be with their own audience . Finally , having enough of an influence to inspire a group of people and affect their buyer behaviour is key .
All influencers will have a hybrid of the above qualities . An influencer with a large reach may not be able to influence their audience ’ s behaviour as much as an influencer with less reach , but a very engaged audience who trust the influencer and will base their decisions on their opinion . Below is a tiered system based on the idea of ranking affiliates on their reach and engagement .
Mega Reach : 1 million + Engagement up to 5 % Celebrity and super social influencers are brilliant as brand ambassadors and are likely to produce great results for impressions with an unparalleled reach . Although they are not the best for converting or ROI , the brand awareness and association is an entirely different story .
Macro Reach : 10,000 + Engagement up to 25 % Value-added influencers including journalists , bloggers and specialists will likely prove to be most successful in terms of their relevance as their audience is likely to be engaged by a shared interest and the value of their expert opinion . This is particularly relevant in gambling and sports .
Micro Reach : 500 + Engagement : up to 50 % Social influencers are a modern take on the classic marketing tool word of mouth . An audience will value their opinion and make decisions based on the influencer ’ s personal experience with a brand . These influencers are key for building relationships and as they grow , so can your rapport . The influencers themselves are likely to personally engage in conversation with their audience via social media / blogs , take care of their audience and respond better to brands showing a personal interest in them .
Influencers in the affiliate channel Influencers have been working in the affiliate channel for years , especially during the mid-noughties when blogging , vlogging and social media gave a new platform for anyone to have a voice .
Working with influencers in our industry has historically been based on a final click model , meaning influencers signed up to an affiliate programme are only rewarded if they are awarded the final click in the user journey , whereas research shows us that influencers play a significant role in the research phase , rather than the tail end of a transaction . In other industries , it is no surprise that attribution models soon recognised the influence of these affiliates ,
iGB Affiliate Issue 62 APR / MAY 2017
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